Stemming from a $4.1 million allocation from the U.S. Treasury, Seminole Nation of Oklahoma will establish three distinct programs offering credit support for tribal members to access resources necessary to grow their businesses.
The three programs under the Seminole Nation Capitol Fund include Loan Participation, Equity Support and Collateral Support. All three are aimed at building up investments, helping establish lines of credit and advocating on behalf of small businesses.
In a statement, Seminole Nation Chief Lewis Johnson said the initiative is one of many helping the nation become more prosperous.
"The Seminole Nation is committed to fostering economic growth and empowerment for our people," he said. "The Seminole Nation Capital Fund reflects our ongoing dedication to assisting our citizens and communities overcome challenges in securing capital. By providing access to funding and resources, we are laying the groundwork for a more self-sufficient future for the Seminole Nation."
The fund will also work directly with lenders to offer support between parties. Funding can be used for a wide variety of things, including startup costs, procurement and construction across various industries.
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